915 Graceland Ave Unit 1C · Des Plaines, IL 60016

$150,000

1 bd · 1.0 ba · 750 sqft · Condo · 2 Days on market

Built 1971 Good condition $265/mo HOA · 13% of rent

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +23.2/30.0
• 1% rule +8.3/10.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +3.7/5.0
• Schools +3.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Step into this charming, freshly painted end-unit condo in the desirable Graceland Manor community. Meticulously maintained and filled with natural light, this inviting home offers the perfect blend of comfort, functionality, and peaceful living. This spacious condo features a welcoming kitchen with a newer stove, new range hood, backsplash, and convenient pantry. The generously sized bedroom easily accommodates a queen or king-size bed and offers a full wall-length closet with potential to create his-and-her closets. Enjoy a cozy living room, a separate dining room with space for a full-size table, a relaxing soaking tub bathroom, and an additional linen closet for extra storage. Additiona

Key facts

• Welcoming kitchen
• Newer stove
• End-unit condo

Tags

• END-UNIT CONDO
• WELCOMING KITCHEN
• NEWER STOVE
• NEW RANGE HOOD
• CONVENIENT PANTRY
• FULL WALL-LENGTH CLOSET

Property features AI

Finance

• Other: 18 units in the building; Living area source: estimated; Not currently leased; Directions: Northwest Hwy to Graceland, south to 915
• Financial info: Special service area: No
• HOA & community: Monthly association fee of $265; Association fee includes heat, water, gas, parking, insurance, exterior maintenance, lawn care, trash service, and snow removal; Association amenities: coin laundry, storage, security door locks; Pets allowed (cats allowed with number limit)

Exterior

• Parking: One assigned parking space; Permit required for parking; Guest and owned parking available
• Security: Security door locks (association amenity)
• Utilities: Water source: Lake Michigan; Public sewer
• Home design: Attached single condo; Entry level: 1; Condo ownership
• Construction: Brick construction; Built approximately 51–60 years ago; Built before 1978
• Exterior features: Common lot/grounds; School bus, commuter bus, and commuter train access

Interior

• Kitchen: Pantry (walk-in); Range; Refrigerator; Range hood
• Bedrooms: Master bedroom on main level (with full bath); One additional bedroom (bedroom 2); Bedrooms 3 and 4 listed (no additional details)
• Flooring: Ceramic tile in primary living areas and rooms listed; Laminate flooring noted elsewhere
• Bathrooms: One full bathroom with soaking tub
• Heating & cooling: Natural gas radiant heating; Wall cooling units
• Interior features: Separate dining room; 4 total rooms; Drapes and blinds on windows; Intercom
• Laundry & utility: Laundry located in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.5% vs local median 3.6% in Des Plaines — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#58 in IL, #1,038 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+.
• Maine Township Hsd 207 (suburban): math 34% / reading 39% proficiency, ranked #143 of 620 in IL (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Maine West High School (math 21% / reading 27%, grade F, #304 of 693 statewide, top 44%, 1,880 students, 0% FRL).
• Zoned-school proficiency averages 24% at this address vs 36% district-wide (-12 pts) — the specific schools serving this property underperform the Maine Township Hsd 207 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.7%/yr); 126 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $150,000

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.33% ✓
• Cap rate: 8.47%
• Cash-on-cash: 7.78%
• DSCR: 1.35
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.74% rent growth · sell at horizon

5-year hold

• IRR: -2.0%
• Equity multiple: 0.92×
• Total profit: $-3,215
• Equity at exit: $22,365

10-year hold

• IRR: 9.9%
• Equity multiple: 1.84×
• Total profit: $35,412
• Equity at exit: $12,969

Cash invested: $42,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 60016

• Rents YoY: 4.7%
• Active inventory: 126
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,992 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$265
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $272

Break-even live

Break-even rent $1,648

Max offer price $150,000

Occupancy floor 81%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
880 Lee St Des Plaines, IL	2.0	1.0–2.0	865	$2,162	$2.50	17d	1	0.08mi
1425 Ellinwood St Des Plaines, IL	1.0–2.0	1.0–2.0	941	$2,389	$2.54	1d	15	0.36mi
1014 E Prairie Ave Unit 2FE Des Plaines, IL	2.0	1.0	1000	$1,550	$1.55	2d	1	0.38mi
1555 Ellinwood Ave Des Plaines, IL	2.0	1.0–2.0	887	$2,871	$3.24	1d	5	0.44mi
1555 Ellinwood Ave Des Plaines, IL	2.0	1.0–2.0	887	$2,951	$3.33	24d	7	0.44mi
1639 Oakwood Ave Des Plaines, IL	2.0	1.0	900	$1,850	$2.06	18d	1	0.50mi
1639 Oakwood Ave Unit 304 Des Plaines, IL	2.0	1.0	900	$1,950	$2.17	15d	1	0.50mi
1639 Oakwood Ave Unit D403 Des Plaines, IL	2.0	1.0	900	$1,950	$2.17	6d	1	0.50mi
1653 Oakwood Ave Unit C4 Des Plaines, IL	2.0	1.0	900	$1,950	$2.17	6d	1	0.52mi
1653 Oakwood Ave Des Plaines, IL	2.0	1.0	900	$1,950	$2.17	24d	1	0.53mi
1004 S River Rd Des Plaines, IL	2.0	1.0	800	$1,855	$2.32	5d	1	0.56mi
1004 S River Rd Apt 201 Des Plaines, IL	2.0	1.0	900	$1,850	$2.06	20d	1	0.56mi
677 S River Rd Unit 3F Des Plaines, IL	1.0	1.0	710	$1,620	$2.28	24d	1	0.57mi
429 Western Ave Unit 3 Des Plaines, IL	2.0	1.0	1000	$1,750	$1.75	3d	1	0.57mi
425 Laurel Ave Unit 1 Des Plaines, IL	2.0	1.0	1000	$1,750	$1.75	18d	1	0.58mi
430 S Western Ave #410 Des Plaines, IL	1.0	1.0	1000	$2,100	$2.10	4d	1	0.59mi
1509 Brown St Unit 11E Des Plaines, IL	1.0	1.0	700	$1,495	$2.14	3d	1	0.61mi
595 S River Rd Des Plaines, IL	1.0–2.0	1.0–2.0	1125	$2,286	$2.03	5d	3	0.61mi
1354 E Washington St #302 Des Plaines, IL	2.0	1.0	1100	$2,000	$1.82	24d	1	0.65mi
430 Oak St Des Plaines, IL	2.0	1.5	1080	$2,250	$2.08	24d	1	0.67mi
1779 Rand Rd Unit 3B Des Plaines, IL	2.0	1.5	841	$1,850	$2.20	24d	1	0.84mi
750 N Northwest Hwy Des Plaines, IL	3.0	1.0–2.0	1194	$2,428	$2.03	1d	12	1.08mi
2051 Ash St Des Plaines, IL	1.0–2.0	1.0	800	$1,395	$1.74	24d	1	1.46mi

HOA detail condo

• Monthly dues: $265 · $3,180/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-18
   days on market $150,000 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $150,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,909
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,913
• − Management: −$1,913
• − HOA: −$3,180
• − Depreciation: −$4,364
• Taxable income: $1,138
• Est. tax owed @ 24.0%: −$273
• After-tax cash flow: $2,996/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This charming, freshly painted end-unit condo in the Graceland Manor community is in good condition with minimal repairs needed. It offers a good return on investment with updates to kitchen and bathroom appliances and landscaping enhancing its curb appeal.

Value-add opportunities

• Both update kitchen appliances — newer appliances can increase both resale and rental value
• Both update bathroom fixtures — updated fixtures can increase both resale and rental value
• Both landscape and enhance curb appeal — enhanced curb appeal can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both update kitchen appliances — newer appliances can increase both resale and rental value ↑
• Both update bathroom fixtures — updated fixtures can increase both resale and rental value ↑
• Both landscape and enhance curb appeal — enhanced curb appeal can increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Maine Township Hsd 207
• NCES district ID: 1724090
• Math proficiency: 34% ▼ -13.00%
• Reading proficiency: 39% ▼ -7.00%
• Median HH income: $79,034
• Composite: 34.36/100
• National rank: #5220
• State rank: #143 of 620 in IL

Livability — Des Plaines

• Score: 83/100
• State rank: #58
• US rank: #1038

Category grades

Amenities B- Commute A+ Cost of living C+ Crime A Employment A+ Housing A+ Health & safety C+ User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Des Plaines, IL
• County: Cook County · 4,486,803 people
• City population: 60,898
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 60,898
• Household income: $86,571
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 1719.0

Population outlook (Cook County) Hauer SSP2

• Today (2025): 5,347,519 people
• By 2030: 5,357,703 · +0.2%
• By 2040: 5,324,924 · -0.4%
• By 2050: 5,230,762 · -2.2%
• By 2075: 4,785,735 · -10.5%
• By 2100: 4,188,836 · -21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 52% Asian 22% Hispanic / Latino 17% Two or more races 10% Black 5%
• Hispanic origin (detail): Mexican 12% Puerto Rican 2%
• Common ancestry: Romanian 13% Subsaharan African 2% Scotch-Irish 2%
• Foreign-born: 38% · Canada, South Korea, China
• Languages at home: 49% English-only · Russian/Polish/Slavic 13% Other Indo-European 12% Spanish 11%

Political lean MEDSL · Cook

• 2024 margin: Solid D (+42.0) · D 70.4% · R 28.4% · Other 1.2%
• 2008→2024 swing: -11.4pp toward R · 2008: 53.4pp · 2024: 42.0pp
• All cycles: 2024: D+42.0 2020: D+50.3 2016: D+53.0 2012: D+49.4 2008: D+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -238.52%
• Current HPI: 223.0247
• Rent YoY: ▲ 4.74%
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

1 event — show timeline

• 2026-06-16 Listed $150,000 MRED as Distributed by MLS Grid